Additionally, new ready-to-drink beverages like Frappuccinos with oatmilk will be rolled out in 2022.
With cold beverages accounting for more than 50% of its restaurant beverage sales, Starbucks is entering the energy drink market. The latest product launch called Starbucks Baya Energy comes from the coffee chain’s joint venture with PepsiCo Inc., which has been there since 1994.
Starbucks Baya Energy contains coffee fruit and is now available in three fruit flavours in retail stores across the US and via online channels. Starbucks president and CEO Kevin Johnson said the new beverage differentiates the company and creates “another category in the portfolio for growth.”
Johnson in a CNBC interview said the company’s beverage mix is now 55% cold offerings. Also, the company’s national television spend for CPG products grew to $45.6 million in 2020, compared to $29.7 million in 2019.
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